Servo Motors and Drives Market worth 15.92 Billion USD by 2022

October 2700:012016

The market for stainless steel servo motors and drives is expected to grow at a highest CAGR between 2016 and 2022. The increasing demand for stainless steel from food processing and pharmaceutical and healthcare industries is a major driving factor for the growth of the market for stainless steel servo motors and drives.

The scope of this report covers the servo motors and drives market based on offering, type, material of construction, voltage range, communication protocol, industry, and geography.

The advancement and rapid growth in automation and adoption of energy-efficient international standards are some of the significant growth drivers for the servo motors and drives market.

AC servo motors to lead the servo motors market

The AC servo motors is expected to hold the largest share in the servo motors and drives market between 2016 and 2022. The high capability and dynamic functionality of AC servo motors is the major reason behind its increasing use in various industries such as automotive, and food processing, packaging, among others.

Packaging industry for the servo motors and drives market to grow at the highest rate during the forecast period

The packaging industry uses automation for a wide range of operations. The various application of servo motors and drives in the packaging industry includes electric injection molding machine, hybrid injection molding machines (plastic injection molding machines, CNC machines), and others. The reason for the increasing adoption of servo motors and drives in the packaging industry is the growing need and use of automated, accurate, and faster machines.

APAC held the largest share of the servo motors and drives market in 2015

The APAC held the largest share of the servo motors and drives market in 2015. The reason for this growth is increasing industrial activity along with the demand for faster and accurate motors and drives to achieve a higher production output. The increasing demand for energy efficient production processes coupled with the need of software systems is fostering the growth of the servo motors and drives market. The high growth observed in machine tool production and other sectors related to the production of smart phones and automobiles, which includes electronics assembly, semiconductor machinery, and customized robots for different applications are some of the reasons for the growth of the servo motors and drives market in the APAC region.

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